One way to shorten the times might be to use another system then screwing something on to hold it in place.
I think one of the best theoretical systems would be to use a click-system. Basically you use a tool to get the pegs down, this allows the guy to remove the wheel.
The other guy who puts on the new wheel simply has to click it on.
I´m sure there are many things to consider (like safety) but maybe it will be look into in the future.
Little sketch showing sort of what i mean.
If it can be done then i would think sub 2 second pit stops would be the average.
The latest version teams use vs my theoretical click system,
